The cancellation or setting aside of any judgment or court order is known legally as the rescission of such an order. Unlike in the Magistrate Courts where a judgment can be rescinded once you have settled the debt and the creditor has consented to the judgment being rescinded, a High Court judgment can only be rescinded in certain exceptional circumstances.

The rescission of a High Court judgment is not an automatic right even where the consumer has settled the entire Home Loan or the arrears.

The fact that a creditor may consent to the removal of a high court judgment against you, is not grounds enough to have a high court judgment rescinded.

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What it means to have Judgement on your Credit Record?

In short, it means you did not pay a debt at one point in time and the creditor you owed secured the debt by getting a court to grant a judgment against you. The judgment secures the debt as the creditor can now attach any property you own in order to satisfy the judgment debt.

Even though you may settle the debt concerned, the judgment listing shall remain on your credit record for a mandatory period of 5 years. Mandatory as the National Credit Act provides that a judgment listing must be reflected on your credit record for 5 years. Even the judgment creditor cannot request the credit bureau to remove the listing from your credit record.

Prior to the expiry of the 5 year period, a judgment listing can only be removed from your credit record if a rescission application is made to the very same court that granted the judgment in the first instance.